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Conveyance
Conveyancing is the transfer of legal title of property from one person to another, or the granting of an encumbrance such as a mortgage or a lien.[1] However, the term may also refer to the movement of bulk commodities or other products such as water, sewerage, electricity, or gas.
A typical conveyancing transaction contains two major landmarks: the exchange of contracts (whereby equitable title passes) and completion (whereby legal title passes). Conveyancing occurs in three stages: before contract, before completion and after completion.
A buyer of real property must ensure that he or she obtains a good and marketable 'title' to the land; i.e., that the seller is the owner, has the right to sell the property, and there is no factor which would impede a mortgage or re-sale.
A system of conveyancing is usually designed to ensure that the buyer secures title to the land together with all the rights that run with the land, and is notified of any restrictions in advance of purchase. In most mature jurisdictions, conveyancing is facilitated by a system of land registration which is designed to encourage reliance on public records and assure purchasers of land that they are taking good title. [2]
When are you Safe after a Fraudulent Conveyance?
Very generally, a fraudulent conveyance is a transfer of money or property from a debtor to someone or something else when either (1) the debtor intends to defraud creditors or (2) the debtor received less than a reasonably equivalent value in exchange for the transfer and made it while insolvent...
Fraudulent Conveyance And Related Charges
The Illinois ARDC has filed a complaint alleging that the lawyer, an equity partner in a law firm that had represented approximately 2,500 plaintiffs in product liability litigation, was sued for $1...
Cuomo Has a New Toy: Fraudulent Conveyance Claims
The State Attorney General of New York, Andrew Cuomo, is using the state's fraudulent conveyance statute to threaten AIG into reclaiming paid compensation to AIG executives...
Not A Fraudulent Conveyance To Take Your Name Off Title Of Asset Wholly Paid For By Another Person
I have written occasionally, and recently, about situations where a parent purchases an asset and puts their child?s name on the asset as a joint owner for estate planning purposes
MA Supreme Court Finds State Can?t Force Conveyance of Easement as a Condition of Affordable Housing Project Approval
The Supreme Court held that the Housing Appeals Committee of the Department of Housing and Community Development lacks statutory authority to require, as a condition to the grant of a comprehensive permit for an affordable housing development project, that a municipality convey an easement on land it owns to the project?s developer...
Texas Court Voids Home Title Transfer By 87-Year Old Widower To Caretaker; Evidence Proved Fraudulent Promises Were Made At Time Of Conveyance
In Beaumont, Texas, The Southeast Texas Record reports:
Liberty County District Judge C. T. Hight correctly returned a home to an old man who signed it away, the Ninth District appeals court in Beaumont decided...
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